Regulation 199 Article 452 (use of the IRB Approach to credit risk)

In Article 452 (use of the IRB Approach to credit risk), for the third sub-paragraph substitute—

“For the purposes of point (j), the “relevant geographical location of credit exposures” means—

(a)

exposures in the United Kingdom; or

(b)

exposures in a third country in which the institution carries out activities through a branch or a subsidiary.”.